Cognitive mechanisms of subjective value in multiattribute pricing.
Year: 2025
Type: article
Abstract: joint models, where all data from an individual are modeled using parameters and mechanisms that are specific to their best fitting model structure. While mechanisms like delay discounting and risk aversion are common to both models, our results suggest that anchoring and payoff sensitivity diverged between pricing and choice. Extensive differences across elicitation procedures indicate that a common representation of value may remain elusive. (PsycInfo Database Record (c) 2026 APA, all rights reserved).
Source: Psychological Review
DOI: 10.1037/rev0000594
Authors: Anderson K. Fitch, Peter D. Kvam
Institutions: University of Florida, The Ohio State University
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: hybrid
Funder: National Science Foundation
OpenAlex ID: W4414994153
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